Viper Subsea Revenues Increase by 60 Pct (UK)
Viper Subsea has seen revenues rise by 60% in the last financial year and is expecting similar or greater increase in this financial year as the innovative Bristol based company continues to enjoy rapid year-on-year growth.
Established in 2007 with a remit to provide the subsea oil and gas market with superior consultancy and product solutions, Viper Subsea has enjoyed increases in turnover averaging over 40% per annum and has substantially increased the size of its team to support this continued expansion and further develop its market offering.
Neil Douglas, managing director at Viper Subsea, commented: “As a business we are clearly experiencing rapid expansion. 90% of our business is now export work and we have seen a 60% growth in the last financial year alone – and we’re forecasting an even stronger growth in the revenue figures for the current financial year.
“Our success is down to Viper Subsea’s team of highly skilled engineers who design and supply hydraulic, chemical, electrical and optical subsea distribution systems, ensuring that we are constantly innovating and improving our market offering.
“Our products are reliable and efficient and in many cases save the industry hundreds of thousands of pounds from their installation. We have invested heavily in research and development and this has resulted in a number of patented products. Meeting the complex needs of the subsea sector with imaginative solutions is undoubtedly the key to our success.”
Press Release, April 24, 2013